The US government may follow the roadmap of Japan in regulating trading activities around cryptocurrencies such as bitcoin and Ethereum
Last week, the Japanese government and its financial regulator the Financial Services Agency (FSA) officially authorized and licensed 11 cryptocurrency exchanges including BitFlyer, the country’s largest trading platform with over 800,000 users.
In a statement, Yuzo Kano, the CEO at BitFlyer, emphasized that the establishment of practical regulations for cryptocurrency exchanges and investors by the Japanese government would allow the country’s cryptocurrency market to position itself at the epicenter of global cryptocurrency trading, development, and innovation.
“Japan has been exploding with demand for both bitcoin trading as well as virtual currency services. The FSA’s approval for bitFlyer to operate as a Registered Virtual Currency Exchange, and the agency’s openness and forward thinking regulation could not come at a better time for the blockchain space,” said Kano.
You can't just ban it. It's immutable tech so better tax it and accept it. It's there thriving and kicking.
Today is the first day of the rest of your life. Have a good time!